Germany's strict constitutional debt rule faces an overhaul after a shock court ruling blew a hole in the budget and left the government scrambling to make its sums add up. As well as pushing the 2023 budget beyond the limit of the debt brake, the ruling has left Germany with a 17-billion-euro ($18-billion) hole in its financial plan for 2024.
Poland's prime minister on Thursday hosted his Ukrainian counterpart for long-awaited talks designed to ease friction over Ukrainian farm imports and border blockades by disgruntled Polish farmers.
Asian investors trod carefully Thursday after a Federal Reserve official floated the idea of delaying or reducing interest rate cuts, while the yen held gains having briefly hit a 34-year low the day before. That comment came a week after the bank lifted interest rates for the first time in 17 years as it shifts away from its long-running ultra-loose monetary policy.
Chinese consumer tech giant Xiaomi will launch its first-ever EV at a press conference in Beijing Thursday, injecting itself into a fiercely competitive sector in the world's largest car market.
Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday. "In the real world, the current transition strategy is visibly failing on most fronts," Saudi Aramco Chief Executive Amin Nasser said at the CERAWeek conference in Houston.
The US central bank should either scale back or delay its interest rate cuts in response to "disappointing" inflation data, a senior Federal Reserve official said Wednesday. "In my view, it is appropriate to reduce the overall number of rate cuts or push them further into the future in response to the recent data," Fed Governor Christopher Waller told a conference in New York.
Anti-establishment figure Bassirou Diomaye Faye has comfortably won the Senegalese presidential election with 54.28 percent of votes in the first round, official provisional results showed Wednesday. Third-placed candidate Aliou Mamadou Dia won just 2.8 percent of the vote, according to figures read out at the Dakar court by the president of the national vote counting commission, Amady Diouf.
Diverted cargo and supply chain disruptions -- businesses are rushing to avoid an economic hit following the collapse of a major bridge in Baltimore as a cargo ship slammed into it this week. "Right now you've got ocean shippers, the other ports and the cargo owners all working to figure out where to divert the ships that were headed that way," he said.
Paris's Notre-Dame Cathedral, ravaged by fire in 2019, is on track to re-open on time on December 8, the head of the reconstruction said Wednesday. The fire at the UNESCO-listed cathedral, which welcomed 12 million visitors a year, shocked the world on April 15, 2019.
A surge in cheap exports from China in industries like electric vehicles could bring "global spillovers," US Treasury Secretary Janet Yellen is due to warn in a speech on Wednesday. "Now, we see excess capacity building in 'new' industries like solar, EVs, and lithium-ion batteries," Yellen is due to say.
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